01
Software & licences
Languages, frameworks, versions, licences, critical dependencies and stack maintainability.
Investment funds
Buy-side tech audit.
As Artificial Intelligence reshapes the global tech ecosystem, the competitive landscape and the way companies are valued, we support Private Equity and Venture Capital funds in their investment and portfolio follow-up decisions with an expert “tech” opinion on the code, AI, organisational and human dimensions of the audited targets - whether they are Tech, Industrial or Service companies.
Trusted by
Our technical due diligence themes
Tech due diligence
Can the target deliver on its promise?
Our combined M&A / fundraising advisory experience and core engineering skills help us go beyond the promises made in pitch decks: stack, product, security, tech organization, debt and real delivery capacity are reviewed under deal-time constraints. AI has become central to how we read targets - actual usage, disruption exposure and residual value of tech and data assets.
At Bluesquare, technical due diligence is not just an academic exercise or a jargon-heavy code review. We combine deep technical expertise with hands-on experience in M&A advisory, fundraising and entrepreneurship - because we are entrepreneurs first. The objective is to deliver, within the deal timeline, a Flash, operational and directly usable assessment: the points that challenge or support the investment thesis, the risks that may impact pricing or execution, and the value-creation levers that can actually be activated.
02
Security & GDPR
Security best practices, data protection, GDPR compliance and platform risk exposure.
03
Development
Code quality, regression testing, AI usage, delivery cadence and technical debt.
04
Operations
Maintenance, anomaly correction, incident troubleshooting, monitoring and operational robustness.
05
Organization
Core skills, human dependencies, technical team structure and ability to absorb the roadmap.
06
Network & client infra
Network equipment, servers, diagrams, hosting, scalability and operational weak spots, including client device fleet and user support model.
07
Roadmap and Business Plan
Critical review of the business plan's feasibility against the tech roadmap, the hiring plan and the remaining development effort: alignment between BP promises, delivery cadence and the human resources required to execute.
08AI focus
AI audit
Actual AI usage by the target, exposure to AI-driven disruption (SaaSpocalypse) and real market value of tech assets and proprietary data.
09
Code ownership
Verification of the open-source frameworks in use and their licence compatibility, comparison of the delivered code with any historical codebase held in escrow, contribution traceability, identification of third-party components and clarification of the IP ownership chain.
Portfolio support
Supporting your portfolio companies.
Throughout the investment cycle, we help portfolio companies identify technical risks, prioritize workstreams and turn audit findings into value-creation levers.
Interactive dialogue
Hands-on support with the portfolio company’s tech and management teams, without turning the audit into a tribunal.
Actionable outcomes
A clear, prioritized diagnosis with practical short and medium-term recommendations.
Maximizing value creation
Identification of technical opportunities that can support growth, margin or exit value.
Minimizing dependencies
Internalizing core technical skills and standalone independence to create durable tech assets.
Examples of audit focuses
A few typical audit focuses.
Our scope can extend to contract-related topics - cross-referencing our tech analysis and code review with an intellectual-property lens - or to the business plan: alignment between the BP / forecast, the tech team sizing and the development roadmap.
Code maturity & scalability
Assessment of structuring technology choices - frameworks, architecture patterns, data models - and the constraints they place on future growth.
Real business model
Reality-check on the « SaaS » or « AI » promise: does what the target pitches actually match what the code and infrastructure deliver?
Business plan feasibility
Alignment between the business plan / forecast, its translation into a tech development roadmap and the hiring plan required to execute it.
Tech team HR organization
Development-team structure, skill-to-need fit, and the 12–24-month hiring roadmap for the technology organization.
Code quality & velocity
General code review, codebase structure, quality processes and actual iteration speed against the product roadmap.
Dependencies & IP
Analysis of critical dependencies, third-party open-source usage and the intellectual-property implications.
Codebase ownership
How deeply the in-house team owns the code - who really masters what, and which areas have become a black box.
Refactoring & tech debt
Sequencing and pricing of the future cost of redeveloping or modernizing the product code to absorb growth.
DevOps & infrastructure maturity
Maturity of the DevOps practices, quality of the server and network infrastructure, and operational robustness of the platform.
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